(RTTNews) - Peabody Energy Corp. (BTU) said it expects fourth quarter adjusted EBITDA to be lower than the third quarter, excluding restructuring charges and other non-recurring items, primarily as a result of the closure of the Kayenta Mine, which contributed approximately $30 million to third quarter adjusted EBITDA. The company also intends to take an impairment charge of approximately $60 million primarily related to the prior North Goonyella Mine panel development now not expected to be accessed.
For the third-quarter, loss per share from continuing operations was $0.77 compared to profit of $0.63 per share, prior year. Adjusted EBITDA declined year-on-year to $150.3 million from $372.1 million. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.17, for the quarter. Analysts' estimates typically exclude special items.
Third-quarter revenues totaled $1.11 billion compared to $1.41 billion, prior year, driven by a 36 percent decline in seaborne metallurgical coal sales volumes and approximately $90 million in lower pricing, excluding the impact of higher Kayenta revenues. Analysts expected revenue of $1.13 billion, for the quarter.
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